These are the highest results in Brembo's history. The 2023 accounts make Executive Chairman, Matteo Tiraboschi, rejoice. The multinational braking systems company's turnover last year came in at just under 4 billion euros (3.85 billion euros to be precise), a 6.1 percent growth over 2022 while margins rose even higher: profit came in at over 300 million euros for the first time. "The satisfaction," says Tiraboschi, "is that all markets have a plus sign in front of them. Even China, which reports a minus sign due to the effect of exchange rates, is actually growing by three points year on year. In the same way, applications are growing, except for motorcycles due to a number of factors related to some customers." In more detail, automotive is up 7.2 percent, commercial vehicles up 7.8 percent, and racing up 13.6 percent over full-year 2022. The North American market (U.S., Mexico, and Canada) shows growth of 5.1 percent, and at more than 1 billion euros weighs in at nearly one-third of sales, while the South American market (Brazil and Argentina) is up 24.9 percent.
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